HUNTSVILLE, Ala. — Two north Alabama counties rank in the top three statewide for individual wealth.
That's according to a new analysis by SmartAsset, which placed Limestone and Madison counties second and third overall using a formula that the company calls a "Wealth Index."
Limestone County secured an impressive second place in the statewide rankings, with a median income of $80,146 and a Wealth Index score of 25.17. The county showcases robust financial fundamentals, with a median home value of $317,870 and median income of $80,146.
Immediately following Limestone, Madison County ranked third, reporting a median income of $78,058 and garnering a Wealth Index score of 24.99. The county's median home value is $306,341.
Suburban Birmingham's Shelby County topped the rankings in all metrics, with a median income of $90,618 and home value of $349,824. Its wealth index score is 29.26.
The study evaluated counties across three critical metrics: investment income, property value, and median income. By calculating an Investment Index that weighs ordinary dividends, qualified dividends, and net capital gains, researchers developed a comprehensive Wealth Index to compare counties nationwide.
The rankings offer a nuanced view of Alabama's economic landscape, highlighting the strong financial positioning of northern counties like Limestone and Madison. The findings provide valuable insights for residents, investors, and policymakers interested in understanding local economic dynamics.
Experts suggest the study reflects broader trends of economic diversification and growth in Alabama's northern regions, particularly around technology corridors and emerging economic centers.
